The global feed enzymes market size is estimated to grow to US$ 1.2 billion in 2023 and is projected to reach US$ 1.8 billion by 2033. The market is expected to record a CAGR of 4.4% during the forecast period.
Market Dynamics:
In the wake of antibiotics ban for livestock in several developed markets, feed enzymes have emerged as a lucrative alternative. With the ban on antibiotics, feed enzymes have gained popularity as they pose fewer side effects when properly used, aiding in digestion and immune boosting. Consequently, a significant segment of the market now prefers immune-boosting feed enzymes over conventional antibiotics.
Market Challenges:
However, the potential side-effects of feed enzymes pose a major hurdle to market growth. While feed enzymes offer a wide array of benefits, physiological factors can limit their action. Improper administration, exceeding prescribed limits, can lead to undesirable consequences. Determining the appropriate enzyme level for animals depends on factors such as age, size, and breed, requiring the expertise of professionals like veterinarians. Certain enzymes, when consumed improperly, can result in blood thinning, diarrhea, and vomiting in animals.
Key Takeaways:
- Antibiotics Ban Impact: Feed enzymes have gained prominence as an alternative to antibiotics, especially in markets where antibiotic use for livestock is banned.
- Benefits vs. Challenges: While feed enzymes offer benefits such as improved digestion and immune boosting, their potential side-effects and limitations in action pose challenges to market growth.
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Key Players Keen to Cater to Niche Markets
Since feed enzymes are increasingly being preferred over antibiotics, key players are aiming to boost production efficiency. Different livestock animals have different feed enzyme requirements depending on their characteristics. Hence, key players need to develop unique product variants to cater to the livestock market. The current forecast period is already witnessing the launch of diverse product lines, by top manufacturers such as DSM and ADM.
Key Takeaways from the Report:
- In terms of revenue, the Feed enzymes market grew at a CAGR of around 4.8% during 2017 and 2022.
- During the forecast period, the Chinese market is projected to grow at a CAGR of 4.3% to attain a valuation of US$ 178.4 million by 2033.
- The Indian industry is projected to expand at a CAGR of 4.3% between 2023 and 2033 to attain a valuation of US$ 80.4 million.
- The U.S. market is anticipated to grow at a CAGR of 4.5% during the forecast period.
- The Carbohydrase segment is expected to grow at a CAGR of 3.8% between 2023 to 2033.
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Key Market Developments:
- Danisco Animal Nutrition recently launched the Extra PHY GOLD, a new variant of phytase enzyme.
- The second generation of ProAct 360, which is a protease enzyme, was released by the DSM in collaboration with Novozymes Feed Enzymes Alliance.
- ADM is all geared up to launch new R&D labs in the United States. These focus on developing sustainable variants of feed enzymes.
- CapriEnzymes is an Indian startup that harnesses biotechnology to produce innovative enzyme variants.
- BRI is a startup primarily focusing on the research and development of sustainable feed enzyme additives.
Key Players:
- BASF SE
- DuPont
- Associated British Foods Plc
- BEHN MEYER
- DSM
- Azelis S.A.
- Rossari
- BIO-CAT
- BEC Feed Solutions
- Adisseo
- Bioproton Pty Ltd.
- Novus International
- BioResource International, Inc.,
- Alltech
- Lesaffre
- Karyotica Biologicals Pvt Ltd.
- Aum Enzymes
- Biovet
- Chr. Hansen Holding A/S
- CapriEnzymes
- Advanced Enzyme Technologies
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Feed Enzymes Market Segmentation
By Form:
- Dry
- Liquid
By Product:
- Phytase
- Carbohydrase
- Protease
By Source:
- Microorganisms
- Plants
- Animals
By Animal:
- Poultry
- Ruminants
- Swine
- Aquatic Animals
- Others (Equine & Pets)
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